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Problem - The following information is for Wildhorse Inc. for the year ended December 31, 2018:
Common shares, Jan. 1 $34,000
Common shares issued during year 17,000
Retained earnings, Jan. 1 69,000
Office expense 1,400
Dividends declared 4,000
Rent expense 12,600
Service revenue 64,000
Utilities expense 2,000
Salaries expense 30,000
Income tax expense 3,200
Required - Using the information below, prepare an income statement for the year. Enter negative amounts using either a negative sign preceding the numbers or parentheses.
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